Financiers Give to Comptroller,
Who Controls Pension Fund

No other state official in the U.S. manages as much money as H. Carl McCall. And that leads to some lucrative fund-raising opportunities.

Late in his 1994 campaign to retain the post of New York state comptroller -- a job that makes the Democrat sole trustee of the state's $88 billion pension fund -- Mr. McCall found himself threatened by the rising Republican tide. So his campaign staff decided to launch an all-out drive to fund a last-minute advertising blitz.